As HSBC prepares to appoint its third CEO in nine years, the bank is considering financial incentives and reallocating key projects to retain executives who may not secure the top job, sources told Reuters. Europe’s largest bank is expected to announce its new chief executive, likely chosen from internal candidates, as soon as this month.
HSBC may shift its technology transformation and innovation strategy, currently overseen by CEO Noel Quinn, away from his successor. The bank aims to retain top talent amid internal changes and challenges such as Britain-China tensions and a lackluster share price performance.
Promotions could come with significant pay incentives for those involved in key projects tied to Quinn’s performance metrics. The nominations committee is considering executives like CFO Georges Elhedery, wealth business head Nuno Matos, Europe boss Colin Bell, and investment bank chief Greg Guyett, in a robust process evaluating both internal and external candidates.